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Bloomberg Megvii, the owner of facial recognition technology company Face++, is in discussions with Alibaba Group Holding Ltd. and other investors as it seeks to raise at least $500 million of new funding, according to people familiar with the matter. The Beijing-based company, which already counts Alibaba as a backer, is talking with Chinese private equity investors and is considering ...

Bloomberg Interserve Plc, which builds and maintains structures for the British government, is in discussions with its bankers about ways to cut its debt after revenue declined in the UK construction unit. It is working on a deleveraging plan that aims to cut its net debt to about 1.5 times earnings before interest, taxes, depreciation and amortisation, the company said. ...

Bloomberg Fiat Chrysler Automobiles NV is planning to build a new Jeep at an idled engine plant in Detroit, beefing up capacity to build higher-margin vehicles and meet surging US demand for sport utility vehicles (SUV). The factory will assemble a new three-row version of the Grand Cherokee SUV, according to a person familiar with the matter, who asked not ...

Bloomberg The UK economy lost momentum in the three months through October, a further sign of the toll being taken by Brexit uncertainty. Growth slowed to 0.4 percent from 0.6 percent in the third quarter, the Office for National Statistics said on Monday. In October alone, growth was just 0.1 percent, with the economy being spared a third month of ...

Bloomberg A gauge of US service industries unexpectedly rose in November to a near-record level amid gains in business activity and new orders, adding to indications that the sector remains robust in the fourth quarter. The non-manufacturing index rose to 60.7, an Institute for Supply Management survey showed. That compared with estimates for a decline to 59. The advance was ...

Bloomberg Deutsche Bahn AG is restoring full rail service after suspending all German long-dist- ance trains due to a strike over pay by the EVG union that also affected some local, regional and freight lines. Long-haul traffic is gradually resuming following the walkout’s end at 9 am local time, Deutsche Bahn said on Monday. Passengers should expect restricted service throughout ...

Bloomberg Elon Musk, the chief executive officer of both Tesla Inc and Space Exploration Technologies Corp, opened up about his tumultuous year in a wide-ranging interview with CBS’s “60 Minutes.” Musk, 47, told anchor Lesley Stahl that none of his tweets have been censored since he reached a settlement with the US Securities and Exchange Commission in October. His problematic ...

Bloomberg UK Prime Minister Theresa May is calling off a crucial vote in Parliament on whether to approve her Brexit deal, according to a person familiar with the situation. The vote in the House of Commons to endorse the terms of the UK’s split from the European Union was due to be held on Tuesday evening but is now set ...

Bloomberg Armenia’s former ruling Republican party was wiped out in parliamentary elections that handed a massive majority to the leader of the country’s “Velvet Revolution.” Preliminary results show acting Prime Minister Nikol Pashinyan’s My Step alliance won 70.4 percent of votes in Sunday’s elections, Armenia’s Central Election Commission reported. The Republicans received 4.7 percent, just short of the 5 percent ...

Bloomberg Swedish Social Democratic leader Stefan Lofven is now facing a defeat in a potential prime minister vote after an attempt at forging a broader coalition failed. After a week of talks, the opposition Center Party rejected forming a government with the Social Democrats, throwing negotiations wide open again three months after the Nordic nation’s inconclusive election that saw big ...